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Keppel Completes 5 Scorpion Jackups

Maritime Activity Reports, Inc.

January 30, 2009

Lady Sponsor Mrs Drucie Cole (second from left), spouse of Mr Jon Cole (first from left), Scorpion President & CEO, is accompanied by (from left) Mr Gabriel Padilla, Scorpion VP Engineering, Reverend Aten, Mr G.S. Tan, Keppel AmFELS President & CEO, Mr Sidney Ware, Scorpion Project Manager and Mr Oscar Lopez, Keppel AmFELS Project Manager

Lady Sponsor Mrs Drucie Cole (second from left), spouse of Mr Jon Cole (first from left), Scorpion President & CEO, is accompanied by (from left) Mr Gabriel Padilla, Scorpion VP Engineering, Reverend Aten, Mr G.S. Tan, Keppel AmFELS President & CEO, Mr Sidney Ware, Scorpion Project Manager and Mr Oscar Lopez, Keppel AmFELS Project Manager

Keppel AmFELS Inc., a wholly-owned subsidiary of Keppel Offshore & Marine Limited (Keppel O&M) in the US Gulf of Mexico, has delivered the jackup drilling rig, Offshore Intrepid, to Scorpion Intrepid Ltd. a subsidiary of Scorpion Offshore Ltd. (Scorpion) on time.

With this delivery, Keppel AmFELS has completed the series of five LeTourneau Super 116 jackup rigs commissioned by Scorpion in 2005 without delay.

Offshore Intrepid was named by Mrs. Drucie Cole, spouse of Mr. Jon Cole, Scorpion’s President & CEO, at the Keppel AmFELS yard on 24 January 2009. This rig has been chartered by Odfjell Drilling Services to operate in the Arabian Gulf for 41 months, beginning 2Q2009.

The first two units, Offshore Courageous and Offshore Defender, were delivered in 2007 while the third and fourth, Offshore Resolute and Offshore Vigilant, were delivered in 2008.

Identical to her sister rigs, Offshore Intrepid incorporates a 70 ft cantilever, the maximum reach currently available for all but a few harsh environment units. This rig is capable of working in 350 ft of water as outfitted or in water of depths up to 400 ft through the installation of additional leg sections. Its drilling depth is approximately 30,000 feet.

Keppel AmFELS is presently involved in the construction of jackup rigs for Perforadora Central and Rowan Companies.

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